A New Action-Based Dataset of Fiscal Consolidation
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This paper presents a new dataset of fiscal consolidation for 17 OECD economies during 1978-2009. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including Budgets, Budget Speeches, central bank reports, Convergence and Stability Programs submitted by the authorities to the European Commission, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation.
Series:
Working Paper No. 2011/128
Subject:
Asset and liability management Budget planning and preparation Debt reduction Expenditure Fiscal consolidation Fiscal policy Government debt management Public financial management (PFM)
English
Publication Date:
June 1, 2011
ISBN/ISSN:
9781455264407/1018-5941
Stock No:
WPIEA2011128
Pages:
90
Please address any questions about this title to publications@imf.org